LAKE FOREST, Ill. — As part of Brunswick Corp.’s ongoing effort to further refine its product portfolio, the company has sold Triton Boats to Fishing Holdings, an affiliate of Platinum Equity, according to a Brunswick press release.
The manufacturer will continue to have a strong role in the recreational and fishing boat markets, stated Brunswick Chairman and CEO Dustan McCoy in the release.
Along with the transaction, production of Triton fiberglass boats will be relocated from Ashland City, Tenn., to Flippin, Ark. Lund fiberglass manufacturing will be moved to the Brunswick Boat Group’s (BBG) Tellico fiberglass boat manufacturing facility in Vonore, Tenn., while Trophy fiberglass fishing boats will continue to be built in Ashland City through the remainder of the year as Brunswick evaluates strategic alternatives for the brand, according to the report.
Restructuring costs are estimated to be $18 million-$20 million, pretax. Of those costs, $15 million was recorded in Brunswick’s second quarter financial results.
“These decisions, while strategic in nature, are never easy or without difficult consequences,” McCoy stated in the release, “but they are nevertheless required by business realities, and are no reflection upon the dedication and expertise of the men and women at the Ashland City facility.”
Remaining the same, Brunswick will retain rights to certain intellectual property and other rights to Triton aluminum boats, and will continue to sell those models under license as part of Brunswick’s aluminum portfolio.
These boats will continue to be built at BBG’s Lebanon, Mo., aluminum manufacturing facility. BBG’s Cypress Cay pontoon boats, which are manufactured in Ft. Wayne, Ind., are not affected by this transaction.
Brunswick’s Mercury Marine unit will continue supplying propulsion systems to Triton and Fishing Holdings’ other brands.
- Can’t get enough boating news? Subscribe to our blog’s RSS feed, follow us on Twitter or look for “Boating Industry” on Facebook and LinkedIn.
- For more of the latest news, click here.